I just came across a great article on CNNMoney.com that talks about the fact that even with the current state of the economy and the real estate market crisis…” Nearly two-thirds of Americans would still prefer to own a home.” Of course most people are a lot more cautious these days, it’s still a breath of fresh air to find out that we aren’t as jaded as I thought.
With caution, Americans still want a house
A nationwide survey conducted by mortgage lender Fannie Mae found 65% of the homeowners and renters believe there is still value in owning a home.
But the survey also suggests that potential home buyers have become more cautious in the years since the housing bubble burst, giving rise to a wave of foreclosures and a severe recession.
“Consumers are still committed to owning a home, but are showing increased cautiousness,” said Doug Duncan, chief economist at Fannie Mae.
He said the downturn in the housing market has led to a “rebalancing” of consumer attitudes towards homeownership. Americans are adopting a more realistic approach and are now less willing to take risks, he said.
The survey showed that home buyers are growing more concerned with longer- term priorities, as opposed to the house “flipping” mentality that characterized the market during the boom years.
Over 40% said personal safety was their main consideration when buying a home, while a third indicated that the quality of local schools was the dominant factor.
If you’re looking to buy a home and take advantage of low interest rate and prices…please contact Julie at (310)402-8181. I specialize in the Greater Los Angeles Area..including West Hollywood, Hollywood Hills, Miracle Mile, Hollywood, Westwood, Brentwood, Santa Monica, West Los Angeles, Studio City, and Sherman Oaks.